Teng had been instumental in developing a fintech framework at ADGM LuLu Financial Holdings has been expanding its interests beyond remittances and getting into the fintech space. Image Credit: Supplied
Dubai: LuLu Financial Holdings has confirmed Richard Teng as independent director on its board. Teng was the former CEO of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM),
The appointment coincides with LuLu Financial Holding’s ongoing diversification and investments in the financial services sector. Teng had served as director of Corporate Finance with Monetary Authority of Singapore and as chief regulatory officer of Singapore Exchange. At ADGM, he helped develop regulatory regimes to bridge gaps in the ecosystem.
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New branch conveniently located at Al Khrair at the newly opened LuLu Hypermarket Image Credit: Supplied
Continuing its impressive run of new branch openings in 2021, LuLu International Exchange – UAE’s leading payments provider offering cross-border remittances and currency exchange services, has opened its sixth branch in Al Ain and its 82nd in the country, in the premises of the newly opened LuLu Hypermarket at Al Khrair.
The opening marks the 233rd Global Branch of LuLu Financial Group worldwide.
Speaking on the sidelines of the grand opening ceremony, Mr. Adeeb Ahamed, Managing Director of LuLu Financial Group, congratulated the team on its eighth branch opening this year, and creating synergy between the company’s ever-expanding physical network and world-class digital offerings.
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New branch caters to businesses and residents in Ajman s most commercially active regions Image Credit: Supplied
The importance of UAE’s cross-border payments industry as an essential service has never been more pronounced than in recent months. The ongoing health crisis and the resulting global restrictions have led to the payments industry playing a crucial link in helping millions of expats in the country support their families back home. LuLu International Exchange – UAE’s leading payments provider offering cross-border remittances and currency exchange services, has taken all the positive steps to serve this need better.
Being on an expansionary mode in 2021, the company has been mindful of its financial inclusion goals, adding new branches in several underserved locations across the country.